The Arizona champion., 1887-05-28
BIG THINGS


 them are so big that there is dan' ger of their ppling over and causing general disaster in the crash that will follow. Within the last few years there has been general fear that corporations were growing too pow erful, but corporations are now left behind, they are too much tram meled with laws, regulations and safe guards to suit the ambitious projects of the modern fnancier, who likes to be unfettered in his undertakings with other peoples money.
 This has given birth to the Trust company, which has none of the in- conveniences of corporation law to interfere with its smooth working. Nineteen well.informed people out of twenty imagine that the Trust com pany is corporation, but 1t is not. The modern Trust company is entire lY irresponsible and the action of its managers or directors entirely beyond the control of the bulk of the people, who find money for its operations. Their is no check upon their transac- tions or limit to the extent or variety of business they may-engage in:
 A corporation is limited and bound by legal safeguards which plainly de- fines what it can do and what it shall not do, In all incorporation deeds the business which the association is to engage ir and the place where its chief office is located and books kept are plainly specified. A company formed to build and operate a rail . road connot construct ships and nayi- gate them, or if it is formed to con- duct cattle range,it cannot carry on a manufactory. The stockholders in any corporation can inspect the books at any time, and invoke the aid of the law to secure their interests if there are good grounds for supposing that the affairs of the company are mis- managed. Our corporation laws are the result of years of cumulated legal and commercial knowledge, and they are as near perfect as experience can make them, the rights of investors being secured as efectually as possible c by every legal safeguard.
 The Trust company is very differ ent thing. It is not a corporation, although 1t may own and control cor porations. It has no legal status, nei- ther need there b. any limitations to the character or extent of its transac tiens. It is thoroughly irresponsible, 1t need have no legal place of busi- ness, it can embark in any business transactions its directors may choose and the stockholders have no right to investigate accounts, If they cold nnu anJ ~ investigate. The designa- ton of "Trust company" is a mis. homer if any one supposes that such companies are trustworthy. If the name means anything, it means that investors bllndly entrust theIr money to them without a shadow of legal control in the disposal of it. The idea IS simply this, a few mensget to. gether and originate plan to buy up or get under their control the bulk ol some particular business or industry, and then give the public an opportu- nity to provide the funds to do it with: The next move is to try and induce every manufacturer or pro- ducer of the articles to come into the company, and if they refuse, buy them out, or freeze them out, whichever is the most feasible. By this means they claim to destroy competition and con- trol or monopolize an entire industry throughout the country. The Stan dard oil Trust company--the detail s of whose operations are known to al- most every reader-is an example which shows fully the manner in which trust companies are worked. The i'm mense sums made by this company which IS the largest mercantile mono poly in the world-has been the chief means of inducing the public to go into enterprises of similar character started since, but the notorious Credit A!obilier, is the real parent of the system.
 Within the last few weeks, the American Cattle Trust Company, whose birth place is in Denver, has heen formed with capital of SaS,-